Severstal launches production of cryogenic fittings

MOSCOW. Aug 28 (Interfax) - Severstal has launched production of Ak500 cryogenic fittings as part of the import substitution program, and the first 1,200 tonnes have been shipped to the consumer, the company said in a statement.

Severstal boosted supplies of new types of products to the domestic market by 30% year-on-year in the first half of the year, and about 10% of the company's total production is currently in new types of products, Severstal said in a press release.

Severstal is a Russian metals and mining company. The principal owner and the group itself were included in the Specially Designated Nationals and Blocked Persons (SDN) List last year.